Energy investments are top priority

DOE Sec. Alfonso G. Cusi addresses the stakeholders on the government’s aggressive call to capitalize and develop business opportunities in the country during the Energy Investment Forum 2018 at the Shangri-La at the Fort on Tuesday (4 December) for the National Energy Consciousness Month.

Department of Energy (DOE) Secretary Alfonso G. Cusi today emphasizes that the call to invest in the energy sector is the Duterte Administration’s top priority.

“Ensuring reliable, sufficient and affordable electricity in the country entails close cooperation and collaboration with all our partners in the industry,” Sec. Cusi said.

“We need to step up to further strengthen and sustain our partnership, especially in terms of building energy resilient infrastructures, as well as in the exploration and development of our indigenous energy resources,” he added.

As a policy support to the Ease of Doing Business Act, the DOE is closely working with the legislators for the passage of the Energy Virtual One Stop Shop (EVOSS), which enables the streamlining of the permitting process of energy projects for their entire project cycle.

Sec. Cusi laid down the needed investments for the country, including the power requirement of a total of 43,765 megawatts of additional capacity by 2040. He underscored the DOE, National Electrification Administration and Philippine Rural Electric Cooperatives’ strengthened collaboration to provide electricity to unserved and underserved areas by 2020, as well as initiatives to develop mini-grids.

The DOE chief also highlighted the Philippine Conventional Energy Contracting Program for petroleum (PCECP), which entices investors to “Explore, Explore, Explore” the 14 pre-determined areas (PDAs) for oil and gas exploration in the country.

Likewise, Sec. Cusi mentioned the new option to nominate development areas outside of the 14 PDAs. “You will nominate and apply for it, then we will process it accordingly.”

On natural gas prospects, Sec. Cusi announced that the DOE continues to welcome proposals for the establishment of an integrated liquefied natural gas receiving and distributing facility, and storage facilities that would support the emergence of a strong strategic petroleum reserve for the country.

Sec. Cusi made these pronouncements during his keynote address at the 2018 Energy Investment Forum with the theme, “Transcending Investments: Role in Encouraging”, held at the Shangri-La at the Fort as part of the National Energy Consciousness Month celebration.

Also present in the investment forum as panelists are Ako Bicol Partylist Representative Rodel M. Batocabe, DOE Undersecretary Felix William B. Fuentebella, Energy Regulatory Commission‘s Judith L. Mangosing, National Grid Corporation of the Philippines‘ Darryl Lon A. Ortiz, Board of Investments’ Nestor P. Arcansalin and Asian Development Bank’s Andrew Jeffries.

DOE Assistant Secretary Robert B. Uy closed the program by emphasizing the wide range of business ventures to explore in the Philippines.